MGE Energy (NASDAQ:MGEE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why
by Kim Johansen · The Markets DailyMGE Energy Inc. (NASDAQ:MGEE – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $78.23 and traded as high as $82.18. MGE Energy shares last traded at $81.54, with a volume of 554,937 shares.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on MGEE shares. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Morgan Stanley reiterated an “underweight” rating on shares of MGE Energy in a research report on Wednesday, June 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research note on Friday, May 8th. Finally, LADENBURG THALM/SH SH upgraded MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MGE Energy has a consensus rating of “Hold” and an average price target of $75.50.
Read Our Latest Stock Report on MGE Energy
MGE Energy Stock Up 3.8%
The business’s fifty day simple moving average is $77.02 and its 200 day simple moving average is $78.25. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 21.60 and a beta of 0.71. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65.
MGE Energy (NASDAQ:MGEE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%.The company had revenue of $242.70 million for the quarter, compared to the consensus estimate of $227.06 million. Equities analysts forecast that MGE Energy Inc. will post 3.98 earnings per share for the current fiscal year.
MGE Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.475 per share. The ex-dividend date was Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. MGE Energy’s dividend payout ratio (DPR) is 48.72%.
Institutional Investors Weigh In On MGE Energy
Large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA raised its holdings in MGE Energy by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 4,356 shares of the utilities provider’s stock worth $337,000 after purchasing an additional 148 shares during the period. Parallel Advisors LLC grew its holdings in shares of MGE Energy by 28.6% in the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after buying an additional 159 shares during the period. LPL Financial LLC increased its position in shares of MGE Energy by 0.8% in the 4th quarter. LPL Financial LLC now owns 21,178 shares of the utilities provider’s stock valued at $1,661,000 after buying an additional 159 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of MGE Energy by 63.8% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock valued at $33,000 after buying an additional 162 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in MGE Energy by 2.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,361 shares of the utilities provider’s stock worth $656,000 after buying an additional 168 shares during the period. Institutional investors own 52.58% of the company’s stock.
About MGE Energy
MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.
Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.